Trump Administration Explored Taking Stakes in AI Giants; Export Controls on Anthropic Could Add Uncertainty
Miles Bennett
Senior Trump officials discussed taking equity in major AI companies before imposing export controls on Anthropic, but two cabinet members disagreed on structure — and the new restrictions now cloud any deal's prospects.
The government wants AI equity — through what vehicle?
Before restricting Anthropic, senior White House officials were already debating how to hold stakes in leading AI firms, Semafor reported.
Treasury Secretary Bessent favored channeling AI equity into a "Trump Account." Commerce Secretary Lutnick pushed to route any stake through a sovereign wealth fund — a large, government-managed investment vehicle.
This means → the question is no longer *whether* to take a stake, but who controls the money and under what structure.
How far along are the talks?
Discussions remain at a very early stage; no decisions have been made.
A meeting with industry CEOs that Trump previewed earlier this month has not taken place.
In plain terms = there is intent but no plan — the government's final position is still unclear.
How does the AI industry feel about it?
For most companies, a government equity stake remains a deeply unwelcome proposition.
The notable exception is OpenAI, which first floated the idea itself last year.
This reflects a sharp divide within the AI sector over accepting government capital.
Why do the Anthropic export controls make this harder?
The administration recently imposed export controls on Anthropic's latest model.
Trump told reporters last week he would "soon convene the top 12 to 15 executives" to discuss AI firms "giving back to the public."
But the controls announced Friday could make any such meeting far more tense.
This means → the government is pursuing partnership and restriction at the same time — two tracks that pull in opposite directions, narrowing the room to negotiate.
Content is for reference only, not financial advice.